Rail Vision Ltd. (NASDAQ: RVSN) has completed its strategic transaction to acquire a 51% ownership interest in Quantum Transportation Ltd., expanding the company's technology roadmap beyond railway safety into quantum-enabled data and IP protection. Through a share exchange, Rail Vision issued 2,982,710 ordinary shares, representing approximately 4.99% of its outstanding share capital at signing, to acquire majority ownership and control of Quantum Transportation.
The transaction combines quantum-AI intellectual property with Rail Vision's vision-based railway safety technologies, creating potential synergies across current and future product lines. Quantum Transportation holds an exclusive rail-focused sublicense to a pending quantum error correction patent from Ramot, the technology transfer company of Tel Aviv University. This acquisition represents a significant expansion of Rail Vision's technological capabilities beyond its core safety focus.
Rail Vision also extended a convertible loan facility of up to $700,000 to support Quantum Transportation's ongoing operations and development. The company believes this strategic move will enhance its position in the railway technology market while creating new opportunities for innovation. Rail Vision is a development stage technology company seeking to revolutionize railway safety and the data-related market through artificial intelligence-based technology specifically designed for railways.
The company's railway detection systems are designed to save lives, increase efficiency, and dramatically reduce expenses for railway operators. Rail Vision believes its technology will significantly increase railway safety worldwide while creating benefits for everyone who relies on the train ecosystem, from passengers to companies using railways for goods delivery. The company also believes its technology has the potential to advance autonomous trains into practical reality.
For investors seeking additional information, the latest news and updates relating to RVSN are available in the company's newsroom at http://ibn.fm/RVSN. The full press release detailing this strategic acquisition can be viewed at https://ibn.fm/D8kDw. This transaction represents a significant step in Rail Vision's expansion beyond traditional safety applications into emerging quantum technology applications for railway systems.
